Intergenerational ownership succession

Lars-Göran Sund, Leif Melin and Kajsa Haag

Journal of Family Business Strategy, 2015, vol. 6, issue 3, 166-177

Abstract: This article contributes to the family business succession literature by (1) addressing ownership succession rather than management succession, (2) recommending a combination of legal and psychological perspectives on ownership to advance our understanding and (3) suggesting a preparatory approach to succession. Measuring the success of management succession has mainly been undertaken by assessing outcomes. Learning retrospectively why a succession was (un)successful may deepen our understanding of the process, but it is not particularly helpful to the business in question. We propose an alternative method for ownership succession: a preparatory approach that establishes requirements to fulfill before the succession takes place. These requirements are presented in a model that considers both the legal/financial and the psychological aspects of ownership and are formulated to improve intergenerational ownership succession and the post-succession prosperity of the firm.

Keywords: Ownership; Succession; Preparation; Legal ownership; Psychological ownership (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:fambus:v:6:y:2015:i:3:p:166-177

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DOI: 10.1016/j.jfbs.2015.07.001

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